A straight answer
Rates went up while I'm in escrow. Can I still close, or should I walk away?
The direct answer
You may still be able to close. A higher rate during escrow does not by itself cancel the purchase, and there may be ways to make the loan work: check your lock, try another loan option, or change its structure. I'm Zach von der Linden (NMLS 1652805), a mortgage broker with West Capital Lending, based in San Clemente.
I arrange the loan with a lender and put the financing together. I can review your lock status, look at other eligible programs, and see whether a different loan structure, a seller credit or a change to your finances could help. Whether you can cancel without losing your earnest money depends on your contract and the facts of your purchase, and contract terms vary. Text or call me with your closing date. I work with buyers in California, Utah, Oregon and Arizona.
Zach von der Linden, mortgage broker and Branch Manager, West Capital Lending · NMLS 1652805
Wholesale pricing · California, Utah, Oregon and Arizona
5.0 across 66 reviews on Experience.com (read on 2026-09-24) · Text reaches Zach directly · Last updated 2026-10-16
Let's see if we can save the deal.
Check my options with a soft pull
It starts online and uses a soft credit check, with no hard pull for the first look.
Closing is coming up? Text or call me.
No credit pull happens from a text or a call. Texts and calls go to Zach's cell.
What happens after you text me?
Texts go straight to my cell, and I answer them myself when I'm free. I'll ask for the few details that actually matter, tell you whether the structure looks worth pursuing, and explain the next step. If I don't think the loan fits, I'll tell you that too.
A text or phone conversation does not pull your credit.
My mortgage rate went up during escrow. What should I do first?
Get three facts before you decide anything: whether your rate is locked and until when, your closing date and any loan contingency in your contract, and what the new payment and cash to close look like. Then send me your Loan Estimate and the financing terms of your contract, and I will look at what could still qualify.
In the meantime, hold off on new credit and large money moves. A new debt, a missed payment or an undocumented transfer can change the loan, and a locked loan can change with it.
Is my rate locked, floating, or expired?
Look at the top of the first page of your Loan Estimate. The CFPB points there: it shows whether the rate is locked and, if it is, until when. If it says the rate is not locked, you are floating, and the rate can move until the lender confirms a lock.
If the lock runs out before closing, the lender may price the loan again, or an extension may be available at a cost; ask the lender what each path costs. The details are on when should I lock my mortgage rate, and what happens if my lock expires?
Can I switch mortgage lenders in the middle of escrow?
Sometimes, but it is not a sure way to save the deal. A different lender means a new application, new disclosures, fresh underwriting and possibly a new appraisal, all inside the time your contract allows. Whether that is realistic depends on how much time is left and whether the seller would agree to more if it were needed.
As a broker I can arrange eligible options through the wholesale lenders I work with. I will tell you plainly whether a switch looks workable before you change anything, and I never promise it will save the purchase.
What can I change to help the loan qualify?
Each of these is a possibility, not a promise, and each one has to fit the program and your contract:
- Other loan options. I can arrange eligible options through the wholesale lenders I work with.
- A different loan type. An adjustable-rate loan prices and behaves differently from a fixed one, with its own tradeoffs: should I take an ARM instead of fixed?
- A seller credit or buydown. If the contract can still be amended, a seller credit toward closing costs or a buydown may help: seller credit versus a price cut. Buying a new build in Arizona? See the builder buydown or a price cut.
- A co-borrower. Adding someone with qualifying income can help, if the lender and your contract allow the change.
- Paying off a debt. Paying down or paying off a monthly debt can lower what the lender counts against your income. Ask me before you move the money, because the lender has to document where it came from.
- Gift funds. A documented gift from family can cover part of the cash to close, within the program's gift rules.
- Self-employed? A program that qualifies on bank deposits may fit when tax-return income is the problem: bank statement loans.
Let's see if we can save the deal.
Check my options with a soft pull
It starts online and uses a soft credit check, with no hard pull for the first look.
Can I back out of buying a house if mortgage rates go up?
Not automatically. A higher rate does not by itself give you a right to cancel. Whether you can cancel, and whether your deposit comes back, depends on your purchase contract, including whether a loan contingency is still in place and what it covers. Contract terms vary, so ask your agent what yours says. This is not legal advice.
Will I lose my earnest money if I can't get the loan anymore?
Not necessarily. It depends on your contract, any loan contingency and whether it was still in effect, and the facts of what happened. If the deposit is disputed, talk with your agent and a real estate attorney. On the loan side, I can help you keep a clear record of what the lender approved, what changed and when.
What if I've already removed my loan contingency?
Then a financing problem may be treated differently under your contract, and your deposit may be more exposed. Contract terms vary, so ask your agent what removing the contingency means in your contract, and a real estate attorney if there is a dispute.
On the loan side the work is the same, with less room for surprises: confirm the lock, look at every structure that could still qualify, and tell me right away about any change to your income, debts or the appraisal.
Closing is coming up? Text or call me.
What if the deal already fell through?
Start fresh for the next home with a new pre-approval, which starts online with a soft credit check. Whether an existing rate lock can move to a different property is up to the lender, so I do not assume it can.
I'm the seller. What happens if my buyer's financing falls through?
What happens to the deposit and the timeline depends on your contract, so start with your agent. If you were counting on this sale to buy your next home, there are ways to buy first: can I buy my next home before I sell this one? and a bridge loan to buy before selling.
Questions people ask next
Can I back out of buying a house if mortgage rates go up?
Not automatically. A higher rate does not by itself give you a right to cancel. It depends on your purchase contract, including any loan contingency. Contract terms vary, so ask your agent.
Will I lose my earnest money if I cannot get the loan?
Not necessarily. It depends on your contract, any loan contingency and whether it was still in effect, and the facts. If the deposit is disputed, talk with your agent and a real estate attorney.
Can I switch mortgage lenders in the middle of escrow?
Sometimes. A new lender means a new application, disclosures, underwriting and possibly an appraisal, inside the time your contract allows. I tell you plainly whether a switch looks workable before you change anything.
If the deal falls through, do I lose my rate lock?
Whether a lock can move to a different property is up to the lender, so do not count on it. For the next home, start with a new pre-approval.
How can I save the purchase if the payment is now too high?
Possibly by moving the loan to another program, changing the loan type, a seller credit or buydown, a co-borrower, paying off a debt or documented gift funds. Each has to fit the program and your contract.
Can the seller pay points to lower my rate?
Potentially, within the loan program limit, if your contract can still be amended to add a seller credit. The lender confirms what the credit can pay for on your loan.
What if my rate lock expires before closing?
The lender's policy decides: an extension may be available at a cost, or the loan may be priced again. Ask the lender what each path costs.
What clients say
Zach was so easy to work with. He made a stressful situation into a very positive experience for us and did push us one way or another. He listened to what we hoped we could accomplish and made it happen.
Word for word from Experience.com. Read all reviews.
Sources and checked dates
Sources: CFPB, What's a lock-in or a rate lock? (checked 2026-10-09) · CFPB, Loan Estimate explainer (checked 2026-10-09).
Show each claim on this page, what it depends on, and the date it was checked (2)
| What we say, and what it depends on | Source | Checked |
|---|---|---|
| CFPB: a rate lock means the rate will not change between the offer and closing, as long as you close within the lock period and nothing in your application changes. Lock periods come in different lengths and longer locks can cost more; extending a lock can be expensive if closing slips; if the lock expires, the lender may re-price the loan, so ask what happens if closing is delayed. A locked rate can still change if the application changes: the loan type or down payment, an appraisal higher or lower than expected, a credit score change (new debt, a missed payment) or income that cannot be documented. | CFPB, What's a lock-in or a rate lock? | 2026-10-09 |
| CFPB: the top of page 1 of the Loan Estimate shows whether the interest rate is locked and, if so, until when. It does not show what an extension costs or what the lock period itself costs. | CFPB, Loan Estimate explainer | 2026-10-09 |
Written for and accountable to: Zach von der Linden, Mortgage broker and Branch Manager, West Capital Lending.
Last updated 2026-10-16.
Verify him: NMLS Consumer Access, ID 1652805 · 66 reviews on Experience.com.
Sources for product claims are listed on this page, with the date each was checked.